1. July 30, 2021 at 1:36 am

    Edward, thanks for adding to the critique, but I would put it differently. Conventional economic theory, practice and training are pretty good — for describing and running a capitalist economic system, but useless for managing a satisfactory economy. Your account is in effect saying economists are stunningly stupid, not to see how bad their theory and practices are, when in fact their ranks include the brightest graduates. The people at the World Bank and IMF can read so they can be in no doubt about the heavily documented catastrophic damage their SAPs do to the lives of billions. yet they persist. The fault in it all is deeper than you imply, it is a grotesque moral failure, a disgusting wilful preparedness to perpetrate capitalist ideology and to manage the capitalist system. This is not to say they all understand what they are doing, but they ought to.

    My view is that the system is so firmly entrenched that it cannot be altered by deliberate effort. The history of empires indicates that the rich get such an increasingly firm grip that their capacity gear everything to their interests just grows to the point where they collapse the whole system. Immiseration, anger and chaos are increasing rapidly now. Faith in democracy is fading. Deprived masses are turning to strong leaders. Above all resources are being depleted, intensifying the basic limits to growth problem and reducing the capacity of governments to provide. We are heading to a time of troubles that is likely to be terminal. Our task is to try to increase the numbers who understand that a sustainable and just world has to be some kind of simper way, so that when the dust clears people will not go down the growth and affluence path again and will not let a capitalist class and its eager servants emerge again.
    Ted Trainer

  2. July 30, 2021 at 1:39 am

    This is a wonderful initiative. Those of us that have struggled to teach under the old paradigm have felt obliged to teach neoliberal models in order to critique them- or to encourage students to critique them. The trick will be relegating these models to a footnote so there is enough time to get beyond them. What tends to happen now is that econ 101 is all that most students have time to get and critiques are the footnote

  3. Luke Waddington
    July 30, 2021 at 3:42 am

    Some powerful insight there, watching planet A spinning out of control as talking heads from the IMF ,Reserve Banks and Wall St. fill the airwaves with moronic analysis ( close your eyes but the first four letters of “analysis “indicate the source of their collective wisdom).
    I am however left with a sense of despair that the powerful beneficiaries of orthodoxy are not going to graciously accept the bleedingly fkn obvious. Thanks.

  4. July 31, 2021 at 4:31 pm

    Excellent Initiative – I would be happy to be part of it. I think we need to put together a small team of core, committed people, and have an initial ZOOM – chat to thrash things out.

  5. Greg Gerritt
    August 2, 2021 at 10:46 pm

    The problem with keeping neoliberal ideologies as the basis for local economies is they continue to increase inequality, and the destruction of the planet. microeconomic neoliberlism will make the climate catastrophe much worse much faster, and destroying forests. NBote the forests becasue you can not build cities or do much else without wood..

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